Consumer Private Placement and M&A Transactions Review Week Ending September 24, 2023

Kern Tec: The company raised EUR 12 million of Series A venture funding in a deal led by Stellar Impact on September 23, 2023. PeakBridge Partners and European Innovation Council Fund also participated in the round. The company is a producer of fruit kernels intended to upcycle pits of stone fruits into new food products.  Cherries, apricots, plums and other fruit pits are refined into raw materials such as new baking ingredients, sustainable cosmetic oils, fertilizers and biomass.

Rev Gum: The company raised $6 million of Series A venture funding in a deal led by YETI Capital on September 20, 2023. Walter Robb and Lance Armstrong also participated in the round. The company is a producer and retailer of caffeinated, packaged chewing gum available in peppermint and spearmint flavors.

Eastern Standard Provisions Co.: The company raised $1.1 million of venture funding in the form of convertible debt from undisclosed investors on September 18, 2023. The company is a producer of confectionery snack products that include soft pretzels, Liège Belgian waffles, blended sauces, gourmet flavored salts, and sugars.

THIS: The company raised an undisclosed amount of venture funding from ITV AdVentures on September 22, 2023. The company’s products are made of plant-based ingredients that are high in protein and designed to have the same texture and taste as meat.

Finsbury Food Group / DBAY Advisors: The company entered into a definitive agreement to be acquired by DBAY Advisors through a GBP 143.4 million public-to-private LBO on September 20, 2023. Finsbury Food Group PLC is a United Kingdom-based bakery manufacturer.  The company produces a range of cakes, bread and bakery snack products for retailers and the foodservice channel.

United Sodas of America / Undisclosed Investor: The company received $4.25 million of financing from undisclosed investors on September 20, 2023. The company is a producer of non-alcoholic beverages including sodas that are organically sweetened with a blend of cane sugar, erythritol, and stevia without any added artificial preservatives.

Brasserie Du Mont Blanc / Duvel Moortgat: The company was acquired by Duvel Moortgat for an undisclosed amount on September 18, 2023. The company operates a brewery that produces a variety of craft beers in different flavors that include blueberry, cranberry, orange peel, malt and spices.

Owens Nutrition / Rumenco: The company was acquired by Rumenco for an undisclosed amount on September 21, 2023. The company is a manufacturer of animal food products based in Northallerton, England.  The company’s products include molassed minerals, milk replacers and proteins.

The Juice Executive / Nurture Brands: The company was acquired for an undisclosed amount on September 20, 2023. The company offers freshly made, organic cold pressed juice, smoothies and dairy free nut milk for other brands and corporate clients.

TSS Brands / Avalon Spirits: The company was acquired by Avalon Spirits for an undisclosed amount on September 21, 2023. The company is a producer of premium distilled whisky based in Louisville, Kentucky.